Vinted, the Lithuanian second-hand fashion marketplace, has secured a staggering €5 billion valuation after closing a €340 million secondary share sale. The transaction, led by private equity giant TPG, saw participation from new investors including Baillie Gifford, FJ Labs, and Moore Strategic Ventures. Existing investors, such as Accel, EQT, and Lightspeed Venture Partners, retained at least some stake in the company.

This deal marks a significant milestone for Vinted, which has demonstrated remarkable growth since its previous €250 million Series F fundraise in 2021. The company has reported a 61% revenue growth in 2023, achieving profitability for the first time. Its expansion into new markets and product categories, including electronics, has prompted competitors like eBay to respond with strategic moves.

The success of Vinted's secondary share sale is part of a larger trend in the tech industry, where scale-ups are seeking liquidity for employees and investors in a lukewarm IPO market. Recent examples include Revolut, Monzo, and Stripe, which have all pursued secondary market routes to unlock value.